MAD DOW DISEASE ? Dow Jones looking ahead .....
OUTLOOK ON DOW JONES ..............
THE first chart here shows how the long term Dow Jones is moving towards the major resistance line that kinda looks like a double top right now... The question going through my mind is can the Dow rally back into the 11000 area without any kind of major pull back ? Well, I cant think of any other line to pay the most attention to that the one in this first chart in this post..
Are there any other observations ?
ob1kenobi
29th-May-2005, 06:43 PM
From the charts, the appears to be some triangulation occurring which may see it in the short term struggling to move beyond the resistance line. It might be possible that the DOW moves sideways for a little while. Should be interesting, either way!
MARKETWAVES
29th-May-2005, 06:48 PM
pg-2 ...
MARKETWAVES
6th-June-2005, 11:16 AM
GOING INTO .... NEXT WEEK 6-6-05
DOW JONES ..... CHANNEL LINES .........
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
MARKETWAVES
8th-August-2005, 05:06 PM
an update......
Multiple resistance area .....
tech/a
8th-August-2005, 07:59 PM
A1
Nice work.
DTM
8th-August-2005, 09:55 PM
G'day Market
OK, my take on the Mad Dow disease. :2twocents
Short term it looks to retest support around 10500 - 10400 as circled. This looks like only a small term correction because the weekly charts show a very strong build up of pressure to go up. Monthly charts show that its leveled out after heading down and starting to head up again.
How this will affect the USD I'm not sure but a stronger USD could mean a weaker market in Australia IMO :2twocents . My take is that a strong AUD has been helping keep the markets up. The XJO is heading into record territory and all indicators are indicating divergences so I'm not sure what could trigger an Australian market collapse (maybe interest rate rise when inflation information comes out) but I think that we will be having it in the next 1 to 2 months.
